Pre-market trading in US stocks | Google soared 11%, XPeng Motors surged 10%, leading the gains! Is another tech stock frenzy coming after earnings?

U.S. Stock Market News

1. On the afternoon of April 26th, Chinese President Xi Jinping met with U.S. Secretary of State Antony Blinken at the Great Hall of the People in Beijing.

Xi Jinping stated that this year marks the 45th anniversary of the establishment of diplomatic relations between China and the United States. The 45 years of Sino-U.S. relations have gone through ups and downs, providing us with important insights: the two countries should be partners, not adversaries; they should help each other succeed, not harm each other; they should seek common ground while reserving differences, not engage in vicious competition; they should keep their word and deliver results, not say one thing and do another. I have put forward three major principles of mutual respect, peaceful coexistence, and win-win cooperation, which are not only a summary of past experiences but also a guide for the future.

1. The Ministry of Finance of China announced that individuals who are granted stock options, restricted stocks, and equity incentives by domestically listed companies, after filing with the competent tax authorities, shall pay personal income tax within a period not exceeding 36 months from the date of exercising stock options, lifting restrictions on restricted stocks, or obtaining equity incentives (hereinafter referred to as "exercise"). Taxpayers who leave their positions during this period shall settle all taxes before leaving.

2. In response to market rumors about ByteDance planning to sell TikTok, ByteDance stated that the news is not true and the company has no plans to sell TikTok.

3. On April 25th local time, a Form 144 filed by the U.S. Securities and Exchange Commission (SEC) revealed that former Tesla executive Drew Baglino plans to sell approximately $181.5 million worth of shares of the electric vehicle manufacturer around April 25, 2024. Drew Baglino announced his resignation as Senior Vice President of Powertrain and Energy Business at Tesla last week.

4. According to the China National Enterprise Credit Information Publicity System, the legal representative of Alipay (China) Network Technology Co., Ltd. has been changed from Ni Xingjun to Han Xinyi. Han Xinyi was appointed as the President of Ant Group in March this year and reports to Ant Group's Chairman and CEO Eric Jing.

5. Media reports indicate that Meituan plans to launch an international food delivery platform called KeeTa in the Middle East, with Riyadh, the capital of Saudi Arabia, being the first stop, possibly launching in the coming months.

Pre-Market Movers

In pre-market trading, U.S. stock index futures are up, while the fear index is sharply down.

Bitcoin is currently trading at $64,383, up nearly 1% in the past 24 hours; Ethereum is trading at $3,145, slightly up in the past 24 hours.

Chinese concept stocks, technology stocks, and cryptocurrency-related stocks are generally up in pre-market trading.

XPeng Motors leads Chinese concept stocks with a 10% increase, Li Auto and Nio are up over 7%, Bilibili is up nearly 6%, JD.com is up nearly 5%, Alibaba, Pinduoduo, and Baidu are up over 2%, and NetEase is up over 1%.

Google rose more than 11%, Amazon and Microsoft rose more than 3%, Tesla, Nvidia, AMD, Meta rose more than 1%, while Apple rose slightly.

Marathon Digital rose more than 3%, Coinbase and Microstrategy rose nearly 1%.

In terms of individual stocks, Snap rose more than 25% at one point, with first-quarter performance exceeding expectations and second-quarter guidance also higher than expected.

Intel fell nearly 8% at one point, with first-quarter performance below expectations and second-quarter guidance weaker than expected.

Intel's spin-off company Mobileye fell 3%, with Q1 revenue declining year-on-year.

GSX Techedu rose more than 3% at one point, with fourth-quarter profit turning around year-on-year, and a plan to repurchase approximately 500 million shares extended until the end of April next year.

Australian sleep apnea device manufacturer Resmed rose more than 11%, with third-quarter performance in 2024 exceeding expectations.

Strategy Review

1. Why did Meta plummet while Google and Microsoft soared, despite all "gambling" on AI?

AI investments have already begun to bring huge benefits to Google and Microsoft, but for Meta's performance, it seems more like a heavy burden, with a long way to go on the road to monetizing AI.

2. Summary of the conference calls of the three giants Google, Microsoft, and Meta: "Spending money" is extremely resolute!

"100 billion dollars per quarter" has become the entry ticket for the AI ​​battle! Meta has raised its capital expenditure forecast by 100 billion dollars this year, rising to 350 billion to 400 billion dollars for the full year; Google said it will spend about 12 billion dollars or more on capital expenditures each quarter this year; Microsoft said its capital expenditure in the most recent quarter was 14 billion dollars and is expected to continue to increase "substantially."

3. Xiaomi's car lock-in data shocked me

The product has been released for more than 20 days, and the concept of selling 450,000 vehicles annually has been established. This annualized sales figure just exceeded the sales volume of Model Y in 2023, making it the annual champion of vehicle sales in China regardless of the subsidy method